It’s Monday, and Emma partied yesterday until they passed out. Now, at 2 o’clock in the afternoon, they had just woken up, opened their computer, and were about to start their day of making money.
Eight hours later, Emma still earned more than they’d normally earned in her previous job. How?
Simple – Emma knows a way to earn more online.
Today is the day to finally venture out of the normal nine-to-fives and take advantage of the continuous and rapid digital advancement.
In this article, you’ll explore ways to make money online in South Africa. Specifically, you’ll dive into the profitable opportunities of online trading and the best practices to have your money make more money for you!
3 Ideas to Make Money Online in South Africa
Looking for a side-hustle? How about a breather from your usual routine? Or maybe you’re planning to quit your nine-to-five job now.
Regardless of your reason, going online to earn money in the comfort of your home, after hours, and at your own pace could benefit you more than you’d ever imagine.
1. Online Selling
The growth of social media platforms and online communities has made it easier for everyone to buy and sell products online.
Whether it’s your pre-loved clothes, old phone, out-of-place furniture, or baked goods, listing your products or services on online platforms is the cheapest and quickest way to connect with your potential customers.
And with the availability of same-day-delivery services, trading products online has never been safer!
2. Do Virtual Assistance
Earning US dollars, increased work-life balance, and working at the comfort of your home. That’s the appeal of virtual assistant or any international remote job.
With the forecasted further appreciation of the USD/ZAR exchange, we cannot deny the lucrative opportunities to earn US dollars.
Companies also outsourced employees worldwide – including South Africa – to streamline their operations cost-efficiently.
It’s a win-win situation for you and the company!
If you’re worried about job security, here are some interesting data that ensure the sustainability of your potential remote job:
- Increased Demand: Remote job opportunities are set to grow further and encompass various industries as companies embrace remote work more.
- Cost Efficiency: Companies aiming to reduce overhead costs find remote work an attractive work setup.
- Global Talent Pool: With the growth of the online job market, employers can now hire the best talents from anywhere in the world.
- Technological Advancements: Online jobs are geared toward more efficient and productive operations as communication and collaboration tools have been continuously improved.
3. Online Trading
As the financial market becomes more accessible today, South Africans see the power of online trading as an investment strategy.
Access the internet, get a performing trading device, study the market, open a brokerage account, and you’re all set to earn money passively!
Although it may not offer the instant return you’re looking for, its potential to help you build a better financial future for yourself and your loved ones is impeccable.
Do you want to start your trading journey on the right foot? At TradersUnited, you can access educational trading resources, a community, and a dispute resolution service that empower you in the high-stakes environment of online trading.
Online Trading Is a Passive Way to Grow Your Money
The rapid growth of the digital landscape has created opportunities to passively grow one’s capital through online investment. One notable example of this is online trading.
Online trading involves simultaneously buying and selling financial assets—thus name trading. Doing so allows you to profit from the price differential between your buying and selling price.
Say you’ve bought a stock of Naspers shares at R4,216.31. Knowing the company’s potential to grow, you plan to keep your stock holdings for a year.
With the growing demand for internet connectivity in South Africa, Naspers performed extremely well over the last fiscal year. This pushed Naspers’ stock price to R5,429.42, giving R1,213.11 return on investment (ROI) from your trade.
Moreover, since Naspers pays a 10% dividend to its shareholders, you also passively earn an additional R542 from your stockholding.
That’s how powerful online trading is.
But as the saying goes, “With great power comes great responsibility,” you must always remember that online trading requires great knowledge and skill.
It goes beyond understanding the market—you have to master your emotions and mitigate every risk that lurks around the financial markets.
Learn the Basics of Trading
Let’s address the elephant in the room: Online trading involves a learning curve.
You never trade based on guts just because you feel like doing it. Rather, you execute a trade because you’re confident that the market will move in your favor and will yield you the return you’re aiming for.
But where did traders get such confidence?
It’s from knowing the basics of online trading, including:
- Understanding the structure and operations of the financial markets
- Researching financial service regulation
- Analyzing price data
- Monitoring and interpreting economic news
- Spotting chart patterns
- Studying different indicators
We call them basics because they are among the first ones you must be familiar with. They are the essential pillars that make profitable traders profitable.
However, understanding them is never basic!
Remember that your money is not your only investment here; it’s important to also invest time and effort to get equipped with these trading basics.
Research Profitable Financial Assets
Your asset is your money maker in online trading. After all, it’s the risk you’ve taken. The hope that could potentially bring the financial security you’re after.
Thus, the financial assets you will include in your portfolio should align with your risk appetite and overall financial goals.
Read more: Portfolio Diversification: Strategies and Why You Need It. : How to Make Money Online in South Africa?One way to know the best financial asset for you is by joining an online trading community. Doing so connects you with practical and genuine insights from those who come before you.
Currency Pairs (Forex)
When you participate in the foreign exchange market, you become involved in the battle between two currencies and their respective economies.
That’s because forex involves currency pairs.
If you’re executing a buy (long) position, you’re rooting for the base currency to strengthen against its pair, called quote currency. If it does what you just want, you’ll earn money from the exchange rate appreciation because you’re selling the asset at a higher price than when you bought it.
Thus, you can also profit even when the price depreciates. That is executing a selling (short) position.
When you short a position, you borrow the asset, sell it, and buy it once the price cheapens.
Cryptocurrency
Digital assets entered the market in 2009 following Bitcoin’s emergence.
However, this financial asset did not see the light of day until 2017 through 2018 – the rediscovery of cryptocurrency called as ICO Boom.
Today, the crypto market has seen nothing but growth. In fact, approximately USD 112 billion worth of cryptocurrency is traded daily.
Additionally, cryptocurrencies market capitalization was at USD 2.413 trillion in October 2024.
Stocks
Stocks are financial assets that represent your ownership of the share of a certain publicly traded company. If the company you’ve invested in grows, your share does too.
If it performs badly, then your investment faces risk.
Despite being the oldest form of financial asset, company shares (stocks) are still as profitable today as they were in the past.
Master Risk Management
Risk is a staple in online trading. However, risk is not the end of it all.
If you manage your risk, you safeguard your investment, exploit the risk, and profit from it. Additionally, risk management transforms you into a disciplined trader.
Given the high stakes of online trading, emotions can hinder your success. If you’re too scared to take the risk, you’ll likely miss opportunities to earn money.
However, overconfidence could result in undercalculated or irrational trade execution, blurring the line between strategic investing and gambling.
Risk management helps you find balance and control your emotions.
There are several risk management techniques to help you trade better and safer, including;
- Following 1%-2% capital rule
- Diversification
- Setting stop-loss orders
- Finding reputable broker
- Learn from experienced traders
Is Online Trading Worth Your Attention in 2024?
With its profitable opportunities, online trading is worth your attention if you want to make money online. In fact, it’s among the best investment strategies to secure your future financial health.
However, it’s only possible if done correctly. Learn the basics, find the perfect asset, master risk management, and you’re set to do it right (and surely profit from it).
Want the best way to learn online trading? Join TradersUnited and enjoy the trading resources, benefits, and support that will help you shape a better and safer trading experience.
